Most of the unemployment during the Great Depression was cyclical unemployment
a. True
b. False
Indicate whether the statement is true or false
True
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An alternative approach is to raise taxes on gasoline and other fuels. What is the economic intuition of this policy?
To promote cleaner air, the federal government in the United States enacted tax incentives for purchasing new electric vehicles or clean-fuel vehicles. These were scheduled to be phased out over time.
Given the average tax rate t, a general expression for the budget deficit is
A) tG - Y. B) Y - tG. C) G - tY. D) Y - (G/t).
In 2009, the Nobel Prize in economics was awarded for work on the effectiveness of social norms in the management of commonly held property to:
A. Arthur Pigou. B. Gary Becker. C. Elinor Ostrom. D. Ronald Coase.
Suppose a society begins by producing 3 units of X and 4 units of Y and then alters production to 4 units of X and 4 units of Y. If the quantity and quality of resources and the technology being used remain unchanged, then:
a. 3 units of X and 4 units of Y are a combination best represented by a point inside the production possibilities curve [PPC]. b. we can conclude that the society has moved along the PPC. c. we can conclude that resources were being fully utilized at 3 units of X and 4 units of Y. d. we can conclude that resources were being efficiently utilized at 3 units of X and 4 units of Y. e. 3 units of X and 4 units of Y are a combination best represented by a point outside the PPC.